For some applications, such as dispensing liquid soap from a container, there has been a need for a low cost, high volume, quick acting dispensing pump. A pump of this general type is described and claimed in U.S. Pat. Nos. 3,507,586 and 3,527,551 of L. F. Kutik and E. W. Gronemeyer and also in U.S. patent application Ser. No. 957,056 filed on Nov. 2, 1978 by L. K. Kutik and H. E. Cecil. The pump features a non-throttling peripheral exhaust valve capable of delivering large volumes of liquid quickly. It has been found, however, that after the actuator of the pump has been depressed, it takes too long for the actuator to return upward to its rest position, and this is related to the limited volume handling capabilities of the intake valve.